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Mortgage broker |
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Mortgage brokerAn independent agent who shops around for the best mortgage deal on behalf of his clients.Mortgage BrokerOne who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security. Also called a loan broker.Mortgage brokerA person or company engaged in the arrangement of mortgages for buyers. The broker is usually paid a commission by the lender.Mortgage brokerA company or individual that places mortgage loans with lenders, but does not originate or service loans like a mortgage banker.Mortgage broker Similar MatchesMortgage InsuranceMortgage InsuranceInsurance written by a private mortgage insurance company (referred to as an 'PIC') protecting the mortgage lender against loss incurred by a mortgage default, thus enabling the lender to lend a higher percentage of the sale price. The Federal Government writes this form of insurance through the FHA and the VA. Mortgage applicationMortgage applicationForms used to assess whether you meet the lender's underwriting criteria. These criteria are set to ensure that barring any unforeseeable change in circumstances, you will be able to support the mortgage and meet the repayments. Questions relate to such things as income & status, equity, personal details, credit history etc. Second MortgageSecond MortgageA mortgage which ranks after a first mortgage in priority. Properties may have two, three, or more Mortgages, deeds of trust, or land contracts, as liens at the same time. Legal priority would determine whether they are called a first, second, third, etc. lien. Mortgage cash surplusMortgage cash surplusMoney left over at the end of a mortgage term, over and above the amount required to pay back the debt. Full status mortgageFull status mortgageA full status mortgage is for people who wish to make a lender aware of any previous arrears or debt problems they may have had. If they do not make the lender aware of these facts and they are latetr discovered, his could lead to all sorts of problems and the borrower could even be forced to sell the home. If you have a bad credit record some lenders will regard lending you money a high-risk activity. Many will not lend you money at all and when you can get a loan, you will undoubtedly have to pay a higher rate of interest than you would otherwise. Further SuggestionsDirect Reduction MortgageVeterans Administration (VA) mortgage Government National Mortgage Association (Ginnie Mae) Wrap Around Mortgage Euro mortgage Government National Mortgage Association Reverse mortgage Mortgagee mortgagee interest only mortgage Mortgage Servicing One hundred percent mortgage Self amortizing mortgage Mortgage arrears Federal National Mortgage Association (FannieMae) Package mortgage Alternative mortgage instruments Shared Appreciation Mortgage (SAM) Wholesale mortgage banking Mortgage term Cashback mortgages Renegotiable Rate Mortgage mortgage backed security Secondary mortgage market base rate tracker mortgage |
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